Although the relevance of corporate philanthropy is widely accepted, few companies achieve significant, lasting societal impact because most lack a cohesive strategy. Effective philanthropy must be run no less professionally than the core business.

Corporate social responsibility has become a vital part of the business conversation. Research points to five principles that underscore how collaboration provides the best combination of social and strategic payoffs.

A corporate sphere of influence is not just a platform for a company’s offensive or defensive initiatives. It is the basis upon which the company builds market power over rivals so it can maneuver freely without fear of retaliation.

Most management advice urges companies to undertake frequent and radical change in order to stay competitive. But, says the author, such advice is overprescribed, and those that continue to heed it risk initiative overload, organizational chaos and employee burnout.

Alert executives are learning to orchestrate the difficult transition from a product-innovation culture to a process-innovation culture that can transform successful startups into enduring industry leaders.